Property Management 101

In this episode, Natalie is joined by her personal assistant Lihi Edelman to flesh out what exactly professional property managers do. There’s so much that goes on in their roles and each day brings new excitement and surprises!

This past month, they've had 4 dishwasher leaks, 3 washing machines die within the same week, an exploding toilet, hallway bugs, and a water tank blow.  So, what's their role in this? To do all the work so that the investor/owners don’t have to worry about a thing.  This also includes tenant evictions, move-ins and outs, inspections, professionally drafted leases, bylaw reviews, arranging for repairs and inspections, booking elevators and moves, and more.  

“Our tenants aren’t just renting an apartment or house; they’re renting us and our systems. The chances are, the more properties you have, the more stuff is going to happen.”

They recognize it’s a partnership of where they're living and the experience they’re going to have living there. Natalie and her team have amazing automated systems for payments, repairs, communication, and tenants like the fact that this is what we do all day long and have the systems in place. It makes them easy to reach. They’ve also recognized there’s a growing resistance from tenants to not rent from owners that don’t properly manage rentals full time.

If you want to learn more, Natalie’s second book, So, You Want to be a Property Manager? just came out and is packed full of stories and advice about starting your property management journey. There’s a lot that property managers do that renters don’t really think about.  Understanding leasing is super important, you must be a management expert.

“To owners- My job is for you to never think about your rental and you just receive your deposits every month. But, we get a little bit of everything. We want to do the best possible job for our owners.”

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